BUYERS PRESENTATION

BUYERS PRESENTATION

Personalized Purchase Plan

Planning is important.We guide you every step of the way.

That holds us accountable.Our plan is our commitment.

Purchasing Objectives• Finding the right home• Paying the best possible price• In the best timeframe• With the minimum of inconvenience

In my experience the most commonPurchasing Objectives of my clients are:

Ensuring A Successful Purchase

1. Needs and wants2. One-stop shopping3. Costs4. Transaction coordinator5. After sale service

Five Step Process

I’d like to demonstrate how I can effectively work with you, to find

the right home in your price range.

Agency

Personal Information

Getting to Know You• Family • Occupation • Recreation • Dreams

Finances

What is the maximum you would pay?

• Downpayment• Bank• Mortgage Broker• Pre-Approval• Rate Hold

• Comfort• Maximum

PRICE

Nothing’s worse than finding a home you can’t buy...

Areas

LOCATIONLOCATIONLOCATION

• Neighbourhoods• Sub-Divisions• Features• Amenities• Best Bang for $

Your Current Home

Your Wish List

What do you like best?

Tell us about your dream home...

• Features• Benefits• Colours• Style• Location• Amenities

• Needs• Wants• Dreams• Features• Amenities

Bad Experiences

Tell us about your past experiences with Sales People

• Time• Money• Communication• Listening

Contracts

Always Know What You’re Signing

PAGE of 8 PAGES

CONTRACT OF PURCHASE AND SALE����������� ____________________________________________________________ DATE: _________________

ADDRESS: _______________________________________ ������������������������________________________

������������ ___________________________________ MLS® NO: _____________________________________

PROPERTY:

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�������������������������������������������������������������������������������������������������������������������������1. PURCHASE PRICE: ������������������������������������������� _______________________________________________

__________________________________________________________________________________________________

� ������������������������������������������������������������������������������������������������������

2. DEPOSIT: ��������������������������������������������������������������������������������������within 24 hours of

acceptance unless agreed as follows:

� ���� ������� ����� ��������� ��� ����� �������� ���������� ����� ��� ����� ��� ����������� ����� �������� ��� ��� ��� ����������� �������

������� ��� ���������� ���� ���� ��� ����� �������� �� ���� ����� ��� ���������� ��� ������ ��� ����������������������������

_________________________________________ and held in trust in accordance with the provisions of the Real

Estate Services Act. In the event the Buyer fails to pay the Deposit as required by this Contract, the Seller may, at the

����������������� ���������� ����������������������������� ��������� ������������ �������������� ����������������������������� ����

�������� ��� ���� �������� ��� ��������� ������������ ����� ��������������� �������� �������� �������� ���������� ��� ���� ������ ��� ��������

provided that: (a) the Conveyancer is a Lawyer or Notary; (b) such money is to be held in trust by the Conveyancer as

stakeholder pursuant to the provisions of the Real Estate Services Act pending the completion of the transaction and not on

behalf of any of the principals to the transaction; and (c) if the sale does not complete, the money should be returned to such

party as stakeholder or paid into Court.

SELLER: ______________________________________ SELLER: ______________________________________ADDRESS: __________________________________________________________________________________________________________ ����� _________________������� ______________________________________

BUYER: ______________________________________ BUYER: ______________________________________ADDRESS: __________________________________________________________________________________________________________ ����� _________________������� ______________________________________������������ _____________________________________

BC2057 REV. DA FEB 2019 COPYRIGHT - BC REAL ESTATE ASSOCIATION AND CANADIAN BAR ASSOCIATION (BC BRANCH)

INITIALS

Feb/2019

1

Royal LePage Kelowna.

#1 - 1890 Cooper Road Kelowna V1Y8B7 (250) 860-1100.

To Be Paid Within 48 Hours of Final Subject Removal, Not to Include Saturdays, Sundays orStatutory Holidays

Royal Lepage Kelowna

Costs

Nobody like surprises!

• Deposit• Legal• Property Transfer Tax• Appraisal• Survey Certificate• Title Insurance• Home Inspection• GST• Home Insurance

Professionals and Privacy

We’ll coordinate all professional services for you

• Mortgage Broker• Accountant• Bank• Insurance

• Lawyer• Written Permission to Contact

Home Inspection

The importance of knowing the problem

before its too late

• Benefits• Stories• Valuable Service

The Secret Listings

Approximately 20% of overall sales are NOT on the market, or sold BEFORE they

hit the market

• Exclusive• Sleeve• Pocket• VIP Direct Clients

For Sale By Owner

Don’t be the award winner for paying the most money on the street

• Buyer’s Agency• Data Analysis• Fee for Service

Threshold Rights

He who writes gets paid • Show You Everything• How I Get Paid

• How We Work• How It Works

Personal Guarantee

As a Real Estate Professional, dedicated to providing the best possible services, I guarantee that I will:

1) Buyers Plan Identifying desirable types of properties to acquire. Locating properties available to view and consider. Preliminary investigation and timely information gathering. Viewing properties and providing guidance and advice selecting the right property on which to make an offer.

2) Prepare a Legally Binding Contract of Purchase and Sale Negotiating favourable terms and conditions. Assisting in arranging suitable financing if necessary. Assisting in arranging property inspections and other needed services. Assisting in the completion and possession process.

3) Help Negotiate the Sale Prepare all offers. Represent you during negotiations.

4) Follow Up After the Sale Forward all relevant documents to legal professionals. Provide information to help you in your move.

Property Owner Property Address

As a Real Estate Professional, dedicated to providing the best possible services, I guarantee that I will:

1) Buyers Plan Identifying desirable types of properties to acquireLocating properties available to view and considerPreliminary investigation and timely information gathering

Viewing properties and providing guidance and adviceSelecting the right property on which to make an offer

3) Help negotiate the sale Prepare all offersRepresent you during negotiations4) Follow up after the sale Forward all relevant documents to legal professionalsProvide information to help you in your move

2) Prepare a legally binding contract of Purchase and Sale.Negotiating favourable terms and conditions

Assisting in arranging suitable financing if necessaryAssisting in arranging property inspections and other needed services

Assisting in the completion and possession process

Signature of Real Estate Professional Date

This Service Guarantee is subject to local real estate board by-laws. Details

of the Marketing Plan may vary for rural and recreational properties. Ask your

Real Estate Professional for details.

Keep you informed of: Changes in the market through-out your purchaseperiod

The Personal Service Commitment Guarantee

100% Satisfaction Guaranteed

As your Real Estate Professional, I am committed to providing the best possible service to all of my customers. If you are not completely satisfied, you may terminate the balance of the listing at any time by giving written notice to my Branch Manager. We also ask that you allow us the opportunity to correct any difficulties with in a 24 hour period.

As your Real Estate Professional, I am committed to providing the best possible service to all of my

customers. If you are not completely satisfied, you may terminate the

balance of the listing at any time by giving written notice to my Branch

Manager. We ask that you allow us the opportunity to correct any difficulties

with in a 24 hour period if you are considering canceling.

Benefits of Loyalty

Just like my sellers, we have written agreements

with buyers

• Serious• Commitment• Benefits• E.B.A.

BUYER AGENCY ACKNOWLEDGEMENTBUYER’S BROKERAGE ASSISTANCEThe Buyer has requested that the Buyer’s Brokerage assist the Buyer in the purchase of a property and in

consideration of that assistance the Buyer acknowledges, understands, covenants and agrees that:1. DESIGNATED AGENCY

A. The Buyer’s Brokerage will designate __________________________________________________________________________________________________________________________________________ (the

“Designated Agent ”) to act as the sole agent of the Buyer in respect of the purchase of a property and will

designate one or more licensees of the Buyer’s Brokerage to act as the sole agents of all sellers or other buyers

who are also represented by the Buyer’s Brokerage. If for any reason the license of the Designated Agent (or

where the Designated Agent is comprised of more than one licensee, the licenses of all those licensees) is

suspended, cancelled or becomes inoperative under the Real Estate Services Act or the Designated Agent

(or where the Designated Agent is comprised of more than one licensee, all those licensees) is temporarily

unavailable or ceases to be engaged by the Buyer’s Brokerage, the Buyer’s Brokerage will designate another

licensee of the Buyer’s Brokerage to act as the agent of the Buyer.B. The Designated Agent will not disclose to other licensees, including licensees of the Buyer’s Brokerage who

�����������������������������������������������������������������������������������������������������������

Agent’s agency relationship with the Buyer unless authorized by the Buyer or required by law.C. The Buyer acknowledges that:

(i) an agency relationship will exist only with the Designated Agent;(ii) information obtained by the Designated Agent through the Designated Agent’s agency relationship with

the Buyer will not be attributed to the Buyer’s Brokerage or to other licensees of the Buyer’s Brokerage

who represent other buyers or sellers; and(iii) no agency relationship will exist with the Buyer’s Brokerage and the Buyer’s Brokerage’s obligations to the

Buyer will be limited to the obligations set out in Clauses 3, 5A and 5B.2. DESIGNATED AGENTA. The Designated Agent will not be obligated to make the Buyer aware of any or all properties which may meet

the Buyer’s requirements;B. The Buyer’s Brokerage may terminate the agency relationship with the Buyer at any time; however, such

termination will not relieve the Buyer’s Brokerage and the Designated Agent from their obligations under Part

5 of the Real Estate Services Act Rules;C. Subject to Clause 2A and 2B the Designated Agent will:(i) act as the agent of only the Buyer with respect to a property in which the Buyer becomes interested;(ii) unless otherwise agreed ���������������������������������������������������������������������������(iii) at the earliest reasonable opportunity advise any seller of property in which the Buyer becomes interested;(iv) exercise reasonable care and skill in the provision of services; ���� ���������������������������������Real Estate Services Act��������������������������������������������������

by agreement between the Buyer and the Buyer’s Brokerage, and Real Estate Services Act Rule 3-4; and(vi) obey all lawful instructions of the Buyer that are consistent with the Real Estate Services Act and Rules

and the Bylaws and Code of Ethics of the real estate board or association of which they are a member.

PAGE 1 of ______ PAGES

BC2044 REV. DA JULY 2018

COPYRIGHT BC REAL ESTATE ASSOCIATION

®WEBForms Dec/2018

.

Don’t Be Surprised

It won’t take long...First House on the First Day

We Do the Work For You!

The Best PeopleThe Best Products and Services

The Best ResultsSuccess Shows

LETS DO IT TODAY!

The Journey to Your Dream Home

Numbers of timespeople change homes

Ages 25-35 3 TimesAges 35-45 2 TimesAges 45-55 1 TimeAge 55+ 1 Time

Statistics Tell Us• The average person changes homes about 6 times by age 55

To Buy Your Ultimate Dream Home• Buy what you can as soon as possible• Buy the best location you can afford• Let the equity in your home grow• Keep an eye on the market and be prepared to buy when opportunities come along

Mortgages

What is a Mortgage?A mortgage is an interest in property provided by the borrower as security for a loan.• The borrower (mortgagor) receives funds• The lender (mortgagee) has an interest in the property until the loan is repaid.

Sources of Mortgage Funding• Chartered banks• Life Insurance Companies• Credit Unions• Loan Companies• Mortgage Brokers• Private Lenders• Sellers

Types of Mortgages

Conventional Mortgages• Loan cannot exceed 80% of appraised value or purchase price of the property

High Ratio Mortgages• Loan can be up to 95% on the first $500,000 and then 90% thereafter to a maximum purchase price of $1,000,000• Must be insured if arranged through a bank, credit union or trust company• Insurance Premium Schedule - CMHC and GE Capital (single advance, owner occupied)

Loan Value Insurance (for up to 25 year amortization)up to 65% .60%up to 75% 1.70%up to 80% 2.40%up to 85% 2.80%up to 90% 3.10%up to 95% 4.00%

Collateral MortgageA loan secured by Promissory Note and then further secured by means of a mortgage on the property.

Frequently Used Terms

First MortgagesThe first mortgage registered on the propertyFirst mortgage has priority over subsequent mortgages in regards to payment or remedies for default Second MortgageSecond in priority, therefore a greater risk which is usually reflected in a higher rate of interest

Open Versus Closed MortgagesOpen privilege allows the mortgagor the right to repay all or part of the principal amount of the loan at anytime prior to the due date agreed upon in the mortgage document, or at agreed upon timesOpen privilege may or may not involve a prepayment costs, but closed mortgages will.

In most cases open privilege cost borrower by way of a higher rate of interest

AN INTRODUCTION TO MORTGAGES

MortgagesFinancing Your Property

2.Final Application (after you have contract subject to approval of financing)

• Copy of offer to purchase• Copy of listing details including (MLS®) Property Disclosure Statement, Strata Form B and in certain cases minutes of the meetings.• Copy of deposit cheque

1. Initial Application (pre-approval)

• Birthdate• Job Description (verbally)• Net worth statement (assets & liabilities)• Downpayment - Proof of downpayment (amount in RRSP, bonds, account balance, gift letter etc.)• Verification of employment - income letter from your company stating how long you have worked there and monthly or yearly earnings (signed by your manager or supervisor)• 3 months proof of down payment funds by way of bank or investment statement, or gift deposit• Current pay stub• Past 2-3 years tax assessment notices (to include overtime, proof of taxes owed)

Once your loan is approved, a Mortgage Commitment Letter is issued by the lender.Make sure you have received this prior to singing the Notice form.

On closing the lender disburses the mortgage funds to your lawyer for disbursement to the seller.The loan documents are registered on your title by your lawyer.

Whenever a mortgage is involved in the Financing Process, several steps are required:Completion of the loan application by the lender and collection of supporting documents.The leader processes and reviews the application based on information provided by the borrower

What you need when you see your mortgage broker or lender: